Karen Lee

Keybank no longer takes the 8109-B and told my client he could use their key tax service. Forgot to mention the $4.50 charge. When I took over his books we changed to eftps. Then the bank was holding his deposits for a extraordinary amount of time, charging OD fees etc. I showed up at the bank and told them they were going to lose this account if they didn't lighten up. They actually did lighten up on the holding of funds, surprised me! This is a very small community with 3 banks and a CU. My step-daughter is the manager of one of the banks (not Key) and all banks are trying to get me to recommend their services. Of course there is some nepotism but my step-daughter doesn't even try to snow me. Karen

yes it is frikkin not frikken sorry Karen

Wasn't Zeke the one that coined "frikken banana" last year? I see it is trying to sneak in this year too. Karen

Thanks Deb! Karen

I am still waiting also. I was just going to post to see if I was the only one. There is a KB about the Masters file being corrupt etc. but I can't find the masters file in 2008. Anyway, does anyone have the approved 1040 EF Info? Since we can't E-file until 1/16/09 maybe it isn't being released until later. I can't even find on MyATX where it is scheduled. Any information would be appreciated. Karen

We have probably gotten 40" of snow, condensed to 20" with new 5" last night. The scene outside my office can be seen at www.lewiscounty.com. Suppose to get more snow the next couple of days. It isn't real cold maybe 20's and 30's but we are not use to this much snow for this long. Our snow ususally comes then goes within a couple days. Roofs are collapsing and leaking. Power outages. We were without cable TV for a week and my husband was getting grumpy not being able to see his sports. It is Christmas Eve, employee Kelley (granddaughter) and her son are here and we are working. GGson is my top shredder and picture maker. I can't get enrolled in e-services to get my updated page for verification e-file status. Haven't heard from Republic Bank about my application, have used them for years however I didn't use any products last year but was enrolled. Clients are indecisive about bonuses for employees so can't get a jump on W-2 and quarterly and annual reports. Couldn't log on to MYATX today... My husband says it is too much trouble to get my wheelchair bound Mom to Kelley's to watch the kids open up presents tonight. We are talking 1/4 mile but she has to be lifted into the truck and she weighs 110 lbs. So I can see the problem...I don't think my husband is going to have a very pleasant Christmas! Melancholy me, Karen Lee

It is as taxbilly says. I was trying to complicate the issue with the worksheet in MAX that has a box for filing MFJ in 2007 and MFJ in 2008 and not allowing completion of the worksheet. Since there was a change in filing status that appeared to disallow the credit, as I was playing with a client that I knew would have the credit for 2008, I figured there was something I was missing. Taxbilly very NICELY brought me back to the basics and made me realize that it is more of a software issue that should be watched and not something I missed. The worksheet is not working correctly yet. I appreciate your concern. Karen

The worksheet is not linked properly yet to the 1040 but it is early. I have a client whose spouse died in early 2007 and they sold two houses and was cashed out in 2007. Their cap gains resulted in too much income to qualify for the Stimulus Payment. I was playing with the Line 70 worksheet to see if the surviving spouse would qualify for the Recovery Rebate Credit. When using the worksheet I can't find an exception for filing MFJ last year and single for 2008 (not a qualifying widow). The worksheet doesn't show an exception, the instructions don't offer an exception but I think there should be one. If someone knows of a pub or notice or other resource for me to research this, I would appreciate it. Thanks, Karen

When I installed it sat at 0 for what I considered a long time...just waited and it started the install. Karen

transfer at "book value"?

Taxpayer has known that someone was using her name and social security number. TY 2003 we tried to get this cleared up with the IRS however TP gave up and quit fighting and let the IRS take her subsequent refund. TY 2006 TP's alter ego made enough money to cause her some tax liability she was unwilling to pay so the fight begins again. There were 5 W-2's issued that were not the TP's. We did the usual, Police Report, FTC registration and Social Security. Certified letters to companies issuing W-2's. Responses from the companies were copies of W-2's, W-4's and I-9 to "get a court order". On one of the I-9's was an alien registration number!!! All of this documentation went to the IRS whenever correspondence was received from IRS. Needless to say the postage has been outrageous. Next comes the Tax Court notice. Ended up with TAS and the matter was resolved (had to call TAS because we never received the letter stating such). TP receives her social security statement and TY2007 has the same thing going on. So we called TAS and was informed we need to start the entire process over again. Police report, FTC registration and Social Security. Certified letters etc. Previously Social Security told her they couldn't do anything for her however this year was a different story. TP must have talked to someone who cared that day because they didn't care at all regarding TY2006. Does anyone know an agency that will pick up the ball and get this ended? DHS seems to look for companies that employ several illegals and couldn't be bothered with just one person. Your shared experience and knowledge would be appreciated greatly. Karen

That makes sense! Karen

Since this is a 1 1/4 person office I use the "requirements beyond the scope of this office" sentence. I had a Corp that would bring me the entire year the following May and expect a full financial and tax return in two weeks. I would call to ask a question and they wouldn't return the call but that didn't stop them from calling to ask when their stuff would be done. Then I got "news" they were telling people I wouldn't return their calls. They got the letter. Have a client that is disabled and wife works and they have a now 18 yr old daughter. This last tax season I did both returns and heavily discounted the 18 yr old. Her first time, daughter of existing client blah blah...Disabled client and wife were angry that they didn't get the discount and didn't get a big refund so why didn't they get a big discount blah blah...they took forever to pay a portion of their bill then I told them to forget the rest after disabled client called me up and chewed me out AGAIN. I won't be able to do their taxes next year for FULL PRICE plus aggrevation fee. Now I am busy thinking up the wording for my "S" Corp clients that don't take a reasonable wage... Karen

TP filed bankruptcy in 2001. Discharged in 2002. Truck not included but repo'd 2003. TP never received the 1099-C but IRS did for TY 2006 and received a CP 2000 June 2008. Shouldn't the 1099-C be issued for 2003? I know it doesn't have to make sense but could someone tell me why it doesn't make sense. Do I stand on the fact that the TP never received the 1099 C? Push the date issue? I really don't know what to do other than to tell the client to pay it. Karen

Thanks, it helps alot to just get these thoughts aligned. I had mentioned some of these to the client without anybody to confirm (or argue). Really appreciate it. Karen

My client is a 501©3 doing "green" education. They are a "conduit" between architects, interior designers, contractors and suppliers for various building projects (self sustaining home and green homes). These architects etc are donating time and product for "advertising" and being connected to these "green" projects. How does the 501©3 issue a receipt for a charitable donation (non-cash) and how does the 501©3 report the non-cash "revenue"? Would it be like a gross profit slip from the reduction of inventory or the increase in labor costs without generating revenue. I am really spinning on this one. Any resource direction appreciated. Thanks Karen

Mel, You are the light at the end of the tunnel. Just let us know what you need. Karen

In this office...Form 8879 does not get filed until Form 9325 is attached. When there is a Form 8879 floating around during tax season, the scramble begins to find out all the information necessary to get the Form 8879 in its proper place. Several years ago the 9325 was mailed to each client as confirmation. Karen

OMG........I agree with jainen The end is near!!

Received confirmation in the mail yesterday, check has cleared the bank so I guess snail mail still works. Must have just been a bad day when I tried to renew. Karen

I was going to do a triple net lease but the people that want the house for the Adult Family Home want me to buy, fix it up and maintain it. This was never my intention. So the deal is off at this point for me. The triple net lease would mean it would be strictly investment property. OH Well If I wanted to be a landlord I would buy something else. If someone wants me to buy a house for them, fix it up and maintain it then just give me a call. I would do that and continue living in my 30+ year old single wide trailer. Karen

I am thinking about buying a house to lease to a couple that run Adult Family Homes. They did not qualify to buy this particular house so I am going to buy it. The catch is that my mother is to live there and receive care. The options are: My mother buy it or me buy it. It would be strictly investment property for me but what if my mother were to buy it would it qualify as her primary residence if she were to live there or just investment property for her too. Please give me things to think about and opinions. Thanks Karen

He is gorgeous, Danielle. As for the renewal thing, must have been a bad cyber day for me. The check hasn't cleared the bank yet but will go to MyATX sometime to see if the order is placed. Karen PS I have 2 great grandsons that are the light of my life. The second and third generation of babies is not near as exhausting however I do "feel it" after they have spent a couple of days with us.

Thank you very much. I'm all over it today! Karen

I would like a good resource in learning how to report stock options. I have a return to do with puts and calls and have never reported these before. HELP!! Karen